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dc.contributor.authorSadique, Shibley
dc.contributor.authorIn, Francis H.
dc.contributor.authorVeeraraghavan, Madhu
dc.contributor.authorWachtel, Paul A.
dc.date.accessioned2018-03-29T04:12:28Z
dc.date.available2018-03-29T04:12:28Z
dc.date.issued2013
dc.identifier.issn0164-0704
dc.identifier.doi10.1016/j.jmacro.2013.01.004
dc.identifier.urihttp://hdl.handle.net/10072/172413
dc.description.abstractThis study employs text-analysis software to analyze the contents of the Federal Reserve Beige Book summary of national economic and business conditions, with a particular focus on the predictive content of the text. We show that the Beige Book language is a good predictor of economic turning points as it often provides an early indication of future economic activities. During economic upswings, positive tone becomes more prominent and negative tone becomes less prominent. In addition, this study is the first to document that Beige Book tone affects stock market volatility and trading volume.
dc.description.peerreviewedYes
dc.languageEnglish
dc.language.isoeng
dc.publisherElsevier
dc.relation.ispartofpagefrom81
dc.relation.ispartofpageto92
dc.relation.ispartofjournalJournal of Macroeconomics
dc.relation.ispartofvolume37
dc.subject.fieldofresearchApplied Economics not elsewhere classified
dc.subject.fieldofresearchEconomic Theory
dc.subject.fieldofresearchApplied Economics
dc.subject.fieldofresearchcode140299
dc.subject.fieldofresearchcode1401
dc.subject.fieldofresearchcode1402
dc.titleSoft information and economic activity: Evidence from the Beige book
dc.typeJournal article
dc.type.descriptionC1 - Articles
dc.type.codeC - Journal Articles
gro.hasfulltextNo Full Text
gro.griffith.authorIn, Francis H.
gro.griffith.authorVeeraraghavan, Madhu


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